We are upgrading our show to live streaming! This is being put online as well as being recorded as we evolve (7 years now of Global From Asia), and our GFAVIP members can access live networking rooms, as well as the general audience on various social media platforms can dial in and see this live -and of course – we have the recorded version for our social channels. If you enjoy our show and want to get VIP access to these events and our community, definitely check out our private membership at GFAVIP.com – ok now let’s get into the show!
So our guest for today is a really amazing guy – Valto Loikkanen who’s always really ahead of the curve with technologies and he’s working with some amazing new systems for helping the user take back theirs. Today we are talking about owning your own identity, the future of e-commerce and commerce in general with amazing technologies today. Let’s tune in.
Topics Covered in this Episode
We connected on social media over 10 years ago, I think in 2009 – it is great to have you on the show. Can you introduce yourself for viewers today.
The current “old” way of the internet and data
Right now, everyone accepts (or thinks there is no choice) the fact that these big internet companies grab all our data and sell it back to us.
Example of how we are the products of social media and ecommerce
Let’s discuss some examples
Facebook retargeting and the Facebook feed
Facebook retargeting and the Facebook feed
Amazon retargeting and suggested products
Getting emails about products we viewed, seeing the ads follow us around the web.
Many say “who cares” I have nothing to hide.
Many may not be aware of this data being used to sell to us. Or don’t care. Why is this a big deal?
What is the alternative?
Or others think, I can’t do anything about it, I want to use Facebook and the other big internet company’s services – what can we do?
Owning your data, and your identity
Can you share more on how it works.
What is the opportunity for ecommerce sellers and entrepreneurs
So many listening are ecommerce, Amazon, online sellers and B2B traders – what can they do to stay ahead of the curve?
What you are working on and how people can learn more and connect - Prifina vision - must be looking for investors
I’d love to hear what you are working on – can you share with us.
GFAVIP networking round tables
After the interview, we go to networking mode for our gfavip.com members to connect with the speaker and other attendees (like a live event networking session) and have break out tables and more.
People / Companies / Resources Mentioned in this Episode
Episode Length 58:03
Thank you so much Alto for your time and we appreciate you.
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Listen in on Youtube
[00:00:00] Episode 335 of Global from Asia, Owning your own identity, the future of e-commerce and commerce in general with amazing technologies today. Let’s tune in. Welcome to the Global from Asia podcast where the daunting process of running an international business is broken down into straight up actionable advice.
[00:00:22] And now your host, Michael Michelini. Thank you everybody for choosing to download and listen to and I’m saying, hello, let’s do, I’m doing a video and I am here at Shenyang China, Episode 335 today. And I’m recording this on Thanksgiving day. Thursday’s show will come out in a few days, but of course we need to prepare for this.
[00:00:46] We do these, the meat of the show live streaming now. So some of you actually tuned in are amazing and supportive GFAVIP members on the networking and then our live stream for everybody on the internet. But I hope you enjoy this professionally edited show. And I’m recording my little intro today on Thanksgiving day, about to have some spaghetti and
[00:01:09] I don’t know, it’s not really meatball, no meat, I don’t eat meat, but spaghetti and sauce with some vegetables, my amazing wife when she puts together. So this week’s show is a pretty cool one, Valto, he’s a really amazing guy. He’s a friend I’ve talked to on social media since like 2009 on Twitter days, and he’s always really ahead of the curve with technologies and he’s working with some amazing new systems for helping the user take back theirs.
[00:01:38] Right. You know, with the, the, the old internet, these companies collect all of our data and, and sell us to advertisers, right? With Facebook and Google and all these guys and Valto is working on some pretty cool services and ideas and solutions that it gives the power back to the people, which is what I believe the power of crypto or the power of.
[00:02:00] Blockchain is about. So he shares and gives us some insights and we bring in some others in the community with. We’re onto the actual session to ask some questions too. So it’s pretty engaging. I hope you enjoy this format. Let’s tune in. After, I’ll talk about some other solutions I’m using and looking into, and there’s actually some ways you can actually try to own the new internet, as well.
[00:02:22] So we can tune into that and the outro after the amazing interview with Valto. Let’s tune in. Do you have a US company trying to do your e-commerce or tech startup. If you are, I know banking is a hurdle. Global From Asia has a lot of people looking for banking help. That’s one of our top topics. If you want to check out one of our official GFA partners, mercury.com, they have a fully remote banking service, and we are using it for one of our Amazon investment companies with a US company.
[00:02:50] You can check it out. I also wrote up a tutorial on a review as well as you can get up to a 50 to $250 bonus if you use our partner link. Check it out at globalfromasia.com/mercury. All right, everybody. Thank you for joining us. Happy singles’ day. I am, it’s Mike here and I’ll get Valto up on the stage.
[00:03:11] Let’s try to start right on time. We’ve got a double header today. We’re doing back to back sessions. So this will, this will be our first session. And I’m really excited about this. It’s going to be, we’re going to be talking about the future of e-commerce and, you know, and the internet and identity and data.
[00:03:30] And, I’m just trying to get him onto stage. Valto, I’m gonna invite you on stage. If you see, hear me, hopefully you can accept my invitation. Okay, there you go. All right. Great. Here we go. You good Valto. Great. Great, perfect, awesome. Great to, great to finally see you and come here on the show. Yeah.
[00:03:58] Thanks for inviting. It’s great to be on. Yeah, so we’ve, we’ve been connected since, I don’t know, like 2000 and, 2010, I think with Twitter on social media, or maybe even earlier, it’s been a, it’s been a pleasure to, to know you for such a long time. And, and be associated with you. So a little bit about, about you Valto Lokkien, is that correct?
[00:04:27] Yeah, that’s correct. Just making sure. So you’re an internationally awarded serial entrepreneur with over 20 years experience global business focused on data, AI, digital ecosystem strategies with driven business models with, to many various different roles and you’re currently co-founder and CXO at Prifina. Prifina is a fast growing Silicon Valley.
[00:04:51] Data-driven startup empowering individuals to take control of their data and to be authority of their information. You’re a visionary, strategic hands-on professional with a deep knowledge about digital world concepts and technologies connecting real-world. So, thanks. That’s really, really impressive.
[00:05:07] Thank you again for coming on today. Yeah, thanks Mike for the intro. Yeah, it’s, it’s really good. Good to be on and happy to share, you know, what, what we have going on and, and about different aspects of, you know, the internet revolution, in the, in the, when we connected first time we were actually building the world’s first equity crowdfunding platform globally.
[00:05:32] So that was kind of, so have been pushing the envelope on the, on the new, new borders of the internet. And once more, we are kind of pushing, pushing one envelope to, uh, to let this kind of a new type of internet architecture takeover. And, we’ll see how that will go. Yeah. Yeah. It’s, it’s really, I know you’re always innovating and you’re always making things, you know, making the new concepts of reality.
[00:06:02] And that’s what we try to do here at the show. We try to actually give people practical insights, how they can apply this, you know, a lot of people in the community they’re, e-commerce sellers, they’re B2B traders, you know, between, China or Asia and the overseas markets. So, you know, we, we are fully aware of these.
[00:06:20] Walled gardens, you know, Amazon, Facebook, you know, Wechat, they have all of our data, they know everything about us. And, and that’s, I think a lot of people have just accepted that, right? I mean, that’s just, we, we, as users have just accepted that we need to sign up for these platforms and give them all of our data.
[00:06:40] Is that, you know, is that what you’re trying to change or is that, you know, one of the big problems that you think we have? Yeah. So I think that, it’s, it’s kind of mainly because of the convenience, how, how the current, I would say platform centric internet has come to light. So of course the, the big ones, Facebook, LinkedIn, Amazon, Apple, so forth the, the, the big almighty ones.
[00:07:10] And, and of course it’s like, as individuals, we don’t really, although we like choice, ultimately we just want the easy choice and convenient choice and choice that our friends have made and so forth. So those kinds of behavior is one thing that leads to this kind of platform centric. Winner take all, type of markets when it comes to internet today.
[00:07:35] And then on the other side, of course, that’s, you know, there’s never been a downside for someone, you know, getting to the monopolistic position in business. So it’s never bad for the one who is in that position, but, of course it comes with different responsibilities as we know also. But, one of the, one of the big thing that it requires then from.
[00:07:58] kind of how to change that is that it actually requires a lot of different stakeholders that are typically competing to start thinking differently and come together. Like, I would say some early examples where when Netflix started to rise, it was still, it was already pretty clear that a platform centric model that they’re going to win, you know, these traditional cable networks and so forth.
[00:08:22] So they started Hulu. That’s a concrete pitting solution together. We can all debate whether that’s successful or not, but at least it’s an alternative. But one of the most interesting things that is associated with this dynamic between the platforms and individuals is that because mostly governments at least in, in different parts of the world are looking at you know, citizens rights.
[00:08:53] And, it’s no surprise that racing from Europe these GDPR regulation that came into effect last year. Basically dictates that all those platforms, wherever they are speaking small, private or public, they need to give individual access to their own data that exists in their platform for free and without too much delay and in machine-readable format.
[00:09:18] So now basically in this, this is the gateway that then enables new types of services to emerge where individual can really make it. Choice because they don’t have to leave their friends and other data behind into those platforms and wake them. Got it. Yeah. So, I’ll just, I’ll just speak. Yeah. I’ll just reiterate just in my own, just to give an example, like, so it seems like as a European more thing, right, GDPR, but it’s of course affected our whole world, but.
[00:09:51] It’s a great, it’s a great initiative. And like you just said, lets people control or access or take their data out. So literally on Facebook I tried to export my data, but it’s such a humongous file that you download your profile, you download your photos, your videos, and it processes it and then you can download it.
[00:10:10] So then that’s kind of, what’s opening up to these new, what you’re working on or what this new identity kind of thing. So then that’s the bridge. So GDPR and people exporting or Facebook profile data or LinkedIn data, and then they could maybe upload it to a. A new platform. Is that, is that like a bridge?
[00:10:35] Yeah, exactly. So that’s one, one of the methods and of course in different types of services, so we’ll have different type of gateway. So, in Facebook you also have API APIs, but actually the API APIs don’t really cater. That’s much of the personal side, because those API side designed for other companies, not for the individual, but then if you look at devices like overall health or Fitbit, or these types of personal health devices, pretty much everything is only your data.
[00:11:04] It’s not you know, something for some other purposes, it’s your data for your own use. And those things catered more like gateways to, you know, your services. And then of course they are bigger and smaller depending on your kind of life activities. It can be also like public sector holds a lot of data, like, you know, public transportation data or things that, uh, that people don’t really think about.
[00:11:31]But the main thing is that the similar regulation test this year came into effect in California. And that matters because a lot of innovation come from California. Of course that’s also where our Prifina headquarters is based. So, so basically, that, that individuals have access to their data in different interfaces, but of course, like you or me without any help.
[00:12:02] What we can really do with that data is extremely limited. Uh, so that’s where, uh, us as prifina are focused on is we want to build a tools and solutions for individuals side, where the individual is in control. They can basically upload or connect their data from different sources into their own personal cloud.
[00:12:24] That is also legally under the lounge. It’s not under our, we just provide tools to standardize the data for them to use and then build like connectivity between their cloud and different services. So that’s, that’s, that’s the kind of the new architecture that we’re building. Okay, that sounds so we have some input from Zack in the chat.
[00:12:49] We’ll talk about that. But, so the idea is, you know, let’s maybe we’ll connect and also the e-commerce, but it could be for any kind of data. So you’re, you know, especially Amazon, they know everything you bought, they know, you know, you have all your cookie data, your buying history, but I think I saw it on your.
[00:13:07] Platform. I was reading some links. You sent me before the interview. And, there’s the idea that you could temporarily give your data to an e-commerce marketplace and then they would be able to recommend you products to buy, and then you would take your data back and then you would eat. So it’s like you willingly give your data.
[00:13:32] To the platform, the platform gives processes that for you to help you do the good things that it does, but then you can kind of like take that access back after. Right. Is that kind of like, did I get that right? Or, yeah. So, so basically there’s many, of course there’s many ways how to kind of achieve the one that outcome, the main, the main premise is basically that.
[00:13:59] That, instead of you proactively searching for something like, of course we all know how Facebook ads try to work now you know, they tried to target you with what they hear from your mic on your phone, what you discussing with your friends, and then they’ll say, okay, they are talking about that topic a lot.
[00:14:19] So let’s promote some, you know, dog food for them or whatever, but, but basically, so we all kind of have some sense of idea of how, you know, AI and these algorithms can work, but at the same time, it makes us feel uneasy of how intrusive that, that may be. So one of the, are the benefits that becomes possible when we catered this type of a service.
[00:14:48] From the individual side where we look at the world from their perspective. So we’re not looking at the business perspective where, you know, customers, so individuals are tests, you know, some. Some numbers on top of that, but we actually take the position of the individual, like your personal doctor would do, or your personal shopper would do, or someone who is on your side, looking the world from your benefits perspective.
[00:15:14] And one of the beauties of being able to be in the position on that side is that we can also. Enable anonymous interaction with services and the individuals, uh, with their data without exposing their data, uh, to the platforms themselves, uh, in, in identifiable format. So basically, then it’s possible to create something where you can actually tell, not that someone tries to spy on you and then make guesses of what you need.
[00:15:49] But actually, you can proactively tell and save your preferences and other things. And then, you know, these algorithms can actually find stuff that you really are looking for, what you’re interested in and make recommendations for you like a helper instead of ads. And basically then, then, you can just filter, like I’m not interested.
[00:16:12] I’ll show me more like this and less like that without ever exposing who you are to the services that are just trying to match you with basically these things that you need. That’s just one kind of aspect that the only one you actually want to make a transaction, you know, you want to expose your delivery address, where that should be shipped.
[00:16:34] Okay. Yeah, no, it makes sense. I mean, also against a little bit of some comments in the chat here, you know, like Zack has, Zack Franklin from seller deals as mentioning, he actually likes, likes the idea of a law as an advertiser. He likes that the platform has the data, but he also says that he likes it as a user because it recommends.
[00:16:55] You think by, you’re saying you can still get that benefit by still controlling the [00:17:00] data yourself. And you can actually be more Anon, anonymously, use share it instead of they knowing exactly who you are, but they know your behavior, your browser history, or your purchase history or your. Bus travel, your location history.
[00:17:15] So you would have these different profiles, right? Because there’s all this data about us, right? Everything is your location, history, your buying history, your web visiting history, like, um, all this data. And then. With your platform per feena, you would then be able to let people control that like, kind of like a, a passport or a volt.
[00:17:36] And then you could plug that into these maybe, uh, platforms to then get recommendations or help, or, you know, like you said, assistance. With making a purchase, making a travel plans, uh, doing search history rather than right. Is that I think that’s, you know, I’m just trying to make it simple and both possible for some people myself included.
[00:18:00] Yeah, exactly. So that’s, that’s the idea is that, uh, because now when we go to Amazon or we go to Facebook or anywhere we are there, like, you know, very well vulnerable. Individuals like without any machine algorithms behind us, we are obsessed, you know, us as individuals with our key ports and you know, our eyeballs looking at, you know, content.
[00:18:22] But when there can be someone on the individual side, we can get the power of AI. We can give them power of anonymous. We’ll give them all that. Power on that side as well. And then we can put the algorithms to, you know, have a conversation between each other of what information should raise to us to actually look at.
[00:18:44] So that’s a very different game because there’s algorithms on the other side, but there’s nothing on our side and that’s a big thing. It’s not only the data, but it’s also all the machine power that, uh, Can help, you know, negotiate on your behalf with your control. Uh, what do you actually want to see or don’t want to see.
[00:19:03] Got it. Yeah. I like, I like that. I’m going to come on. It’s just gonna stick with me. It’s like, did you must have seen a movie social dilemma? It’s like a documentary on Netflix. I’m sure that’s really relevant to this discussion. It’s uh, it’s basically, I like when they show at least I think it’s the social dilemma, but there was, uh, some, some documentary I saw, I think there’s a couple others too, where it’s actually, the AI is behind the screen and it’s like, It’s it’s reading, whatever thing you’re doing, it’s kind of like, it’s you versus them, right?
[00:19:34] It’s their reading, everything you do. And then they have all this data in there, but you’re saying you’re trying to help enable the individual to fight back or to defend themselves or protect themselves. Yeah, it can only happen that there is a service on the individual site like that. That’s, that’s the big, big point that, uh, first you, as an individual, you can collect all your data.
[00:19:59] You can also add research data, like your own opinions, whatever you want, but you can keep that to yourself. Never having to expose that data externally because they can be servicing between that only knows. The data model, not the data itself. Um, and that’s the, really the, the key thing of making a totally new types of approach is possible.
[00:20:21] And for us, it’s always, the individual is the primary user, our primary customer, every business comes second. So that’s very different. Are like, missing is to be on the individual side. And that way really becomes a consumer, a consumer, that race. And then the other side is of course developers like those who can then build new type of interacts.
[00:20:46] There’s new types of algorithms, new types of applications for those individuals and we’re individuals choose which ones do they want to use? Like you would in any app store or any marketplace, I want to use this type of help, or I want to use this type of thing. And also those application developers, they never see the data.
[00:21:04] They only need the model of what data is available and then they can build the application. So the application itself cannot send any data out because the app actually runs in the personal cloud of the individual. Wow. Okay. We have, we have a good question from Eulaina. Eulaina is asking about differences, data management control and algorithms, sending you and first to US.
[00:21:32] Yeah. So what is the specific question? Just. I mean, she typed it in and maybe we can even pull her up here. I think we’ll have some time for those to come up on the stage. But I think maybe it’s a little bit general just generally. I mean, I know GDPR is more of a European initiative. At least my assumption is Europe is much stricter about data privacy and data control than in the US.
[00:22:00] And, you know, um, but she’s yeah. How has implementing in US and like, you know, with with your, with your current venture and what you may be seeing, you’re also you’re European and you with San Francisco in the U S is there just differences? Like, is it a culture thing, a government thing, or, I mean, it’s probably mixed of everything.
[00:22:22] The user behavior, she’s saying also legal. All right. Yeah. Yeah. So basically I would say this whole momentum have started from, from things leading to the GDPR regulation coming to life, but it’s not the only thing it’s of course, you know, those documentaries of how data is used itself, comments that we are not customers on Facebook platforms, that we are the products being sold.
[00:22:49] And it’s like many things there are momentums from, from, uh, Individuals, uh, site, uh, that eventually led the regulators to look at that. Hey. as an EDU, they, they also needed to find their own competitive angle for the whole internet. Like what play is there for, for Europe to play. So that’s a smart economic move as well, while at the same time making it the European style.
[00:23:15] But what has, what that initiated is that, uh, in, in US, it goes state by state and then there’s different of, of, of laws in the national level. But what is significant is the California CCPA regulation. That is very much the same as a GDPR in Europe that came to effect. And, uh, and that’s, that’s really, uh, powerful, but it’s also spreading in Japan.
[00:23:41] It’s, you know, Same regulation is, uh, is spreading in Brazil and Canada. So, but those are less known anymore. It becomes more of a norm or a direct sun where that regulation goes. Then those others are less known, even if they are progressing there as well. Okay, well, thanks for that. I brought her on stage, so Eulaina is here if she wants I, everyone.
[00:24:08] Hi Katherine. Hi everyone. Hello? Hello. You know, we had a, uh, discussion because I work here with the big taco brands like Telefonica and these guys. So there was a discussion in a couple of years back, nobody was really, um, quantifying or attempting to, uh, kind of, uh, critically defined algorithms and AI and the uses of data.
[00:24:42] But, um, You know, since two years ago, uh, they stepped back a bit and now, you know, they’re discussing, you know, what’s the future of all these technologies and how it will impact society. So is it good? Is it bad? And these discussions
[00:25:00] are going on. So I think from a mentality point of view, uh, like China is going all, all in on these technologies, uh, us, I’m not sure, but Europe is, uh, being a bit cautious, uh, in, in this, uh, applying these technologies and data and AI to China’s or in like, On what, what technology you’re referring to?
[00:25:28] AI or technology? Yeah. Yeah. AI mostly. Okay. Wow. Okay. Um, so how did they compare to, I understand AI is quite advanced in the, in, in, in us and Europe as well. Do you know how, how different they are in terms of effort? So, I guess, uh, in, in general, it’s more, not so much about [00:26:00] specific technologies. I think every, every single country wants to run as fast as they possibly can with, uh, AI.
[00:26:07] What AI is limited is the available data the AI works poorly. With poor data. So it’s directly connected to. The more data you have, the better your AI will be the more accurate it is. The more higher the quality of the AI is. So the, the, the battle to win in AI is actually not in that technology of AI.
[00:26:30] It’s access to data. Uh, and access to volume and quality data. So that’s why AI is held back by those who don’t have access to two, two months of data. The question, uh, is more specific when it comes to personal data. It’s then the question is who have access to personal data. And of course we can. We can think that China is at its totally own level of access to personal data compared to any other markets.
[00:26:58] So, so that tells something about human centric services in the future, whatever we want to think about, but it’s, these are just like technological facts. Uh, what leads to what? And, uh, and that’s basically the European way. And also this, um, I would say Western market way seems to be a developing.
[00:27:19] That’s the only way to unlock that similar level of personal data to new innovation is actually to be able to individuals to take it out from this massive platforms. Because they would otherwise not give it for free. Like there’s no financial benefit for Google to give all of your data out for free that they spent, you know, a lot of time collecting.
[00:27:43] So, so through these regulations, they actually are competing to making a lot of personal data available to be able to create new types of innovation and better services. You’re you’re saying, Oh, these company who previously collected all these data, they’re now meeting some way to provide to the public on who, whichever organization, one factor.
[00:28:06] Yeah. As a, as a European citizen, also for services outside of Europe, you consistent, Hey, give me my data and they have to comply within 30 days and send your data in machine-readable format. There’s no exceptions or you will get penalized. Uh, the same applies in California with CCPA as a California citizen, you can say any company, public service office as well, uh, criminal offenses, you know, type of records excluded, uh, that, that you can say, Hey, give me my data.
[00:28:38] There’s actually like the first set of, uh, giving this data it’s very expensive to this company is there’s a research done that an average requests at global level today for one individual to ask their data costs more than a thousand, a thousand dollars per request. So it’s not something cheap, so you can make 10 requests, um, you know, create, uh, 10, 10 grand worth of economic value and jobs through the wealth.
[00:29:10] Me as a person, I can request my data for free because from anyone, any company, public services included as a lasso colleagues or European citizen. Uh, but these regulations are also increasing elsewhere. So, yeah, I mean, yeah, Zack is Zack had some chat. I don’t know if you want to say it here, but, as a, as a marketer, you know, what are your thoughts?
[00:29:37] I think all this stuff. Really just creates everything to be more of a pain in the ass than it should be. Um, the fact that we have 8 million different data laws, you know, if we have to sell the California, we can’t treat it like the United States. It’s a different thing, you know, and everywhere is going to have their own patchwork of stuff.
[00:30:00] And now everyone has like a global business and a lot of us have pretty small teams. You know, you can have 10, you know, 10 people and have a multimillion dollar business, but the regulation, because everyone has these new ideas about approaching all this stuff, makes it just a pain in the ass. You know, now I need to worry about like data regulation in Albania or California.
[00:30:28] And it’s just like, I just want to make money. Why am I having to care about this stuff? Um, I, I also like as an advertiser, I’m typically not like when you buy ads with Google or when you buy ads with Facebook, it’s not like I’m buying one individual person’s stuff. You know, I can’t target one individual person.
[00:30:49] I’m saying show it to people like this. There’s already that step in between. And that’s why I like Facebook to have the data, um, because I don’t want to have to deal with you know, collecting this much data on each individual person. Um, you’ve seen a lot of advertising become less effective wins far, and, uh, Google Chrome are implementing all their pixel blocking technology.
[00:31:15] But what is this ending up with? It’s ending up with like 20 years ago or something we’re watching TV and the ads are just stupid. We all watched the ads and we hate the commercials. Now I like my ads on Facebook because I use them for research or they show me stuff I’m absolutely interested in and that’s because they have the data.
[00:31:35] It prevents me from walking out a lot of stuff. I don’t want to look at. It’s going to show me things I absolutely want when I’m watching, like, um, YouTube on my TV, I’m not signed in. They don’t have that data about me. So the ads are really stupid. Okay. The ads are just all this like Thai, um, like grocery store kind of stuff and stuff like this.
[00:31:59] I’m not interested. I like these kinds of things to have my data, because they do provide better services, better ads, better engagement, and it makes it better for me as a user. Like, I don’t want Facebook to write me a $12 check every year. Like I’d rather just, you know, go with it. So I don’t see too much of an issue of giving away my, my data to Google and Facebook.
[00:32:24] And some of it’s really cool. Like, um, Google and Facebook have a history. Like my location history, going back to 2007, it’s amazing. On any day I can go back and I can see exactly where I was, all the places I went to, the routes I took and. It’s amazing. I used to actually use this to prove or remember, did I do consulting at a certain company on a certain day?
[00:32:53] cause I, I forgot. I didn’t take a record and I would just open up my Facebook location history, see where I was and be like, Oh, I was there on this day. But I think the difference though, I mean, I think, I mean, also that’s not going to go away. Right? I think what the point, uh, is this, you ha it’s it’s on your control, not Facebook’s control, so you would let them maybe have it, or if it’s like such a patchwork kind of thing, you know, if it’s not something that everyone is, is doing only certain types of people are going to.
[00:33:28] Share that data, you know, it’s going to make it more rough and more work. I want things to move towards more of a unified experience. I’m on the other side because the problem is it’s all the only is Facebook and Google. Well, and they’re only going to get bigger and more powerful, and they’re going to use your data against you, and they’re not going to let start ups, you know, we can’t get access to the data as a startup, is it right?
[00:33:55] So I think what we’re trying to do is take the power away from these huge internet monopolies and use this data back to ourself and let us plug this data to what we want and let it small. I think that like, maybe there’s gonna be a new Amazon. That comes out and we can just pull our data into this new Amazon and then maybe even take our old Amazon data.
[00:34:17] I mean, that’s, I, I’m more like, that’s kind of what, cause these guys are just using it against us. Right? The big guys are just using our data against us. Right. Let me let, maybe we let fall too. Well also like oversharing, like if we take all of our Amazon purchase history and we just give it to this new company.
[00:34:37] Like, I also wouldn’t want to do that. I want an Amazon as a data cause I bought this stuff on Amazon. They can have the data. I bought it there. I don’t want to share it with some other random company, everything I bought. Like I want the people I engaged with to have the data and the people that didn’t provide me stuff.
[00:34:54] I don’t really want to give them that, you know, there’s a lot there. Let’s. Yeah. So basically what we are saying is that that, that, uh, there’s limitations for this current model where it can evolve. It’s pretty much achieved its peak. It cannot get better than what it is today. Without some drastic change in the architecture, uh, and approach, uh, Facebook doesn’t have Google data and they will never get it, uh, about you.
[00:35:23] Amazon never has Facebook data, but you as an individual, you can have. Your Facebook data, Google data, LinkedIn data, Amazon data, combine those altogether, add some health data and new types of applications and solutions and services can be built on top of that. But to adapt, to make possible there needs to be services like what we are building.
[00:35:44] And I’m not saying we would be the only one that, that basically made that, uh, Standardizing of that data availability interfaces to interconnect to that, uh, that data, uh, in the volumes so that it doesn’t come in. It doesn’t work. If it’s, you know, you have to target one individual, but there’s a difference between.
[00:36:05] Having personal data separate and the data model, how that data is stored in every one of those clouds, where that data exists and interfaces to connect to that and access to that. And it should not be us or anyone else who decides who gets access. It’s the it’s individual themselves. Uh, basically accepting, do I accept this company services?
[00:36:28] Do I want them to have access to, you know, anonymized profile of myself? Do I want them to have access to this or that, but that’s exactly where service new services are needed, that someone has to make it. Uh, technically feasible, uh, for this new architecture to work. And that’s exactly what we are building is to make all this work, but it doesn’t get any better than today.
[00:36:52] When you get at some products that you have already bought, those cannot be fixed unless there’s better data. I understand what you’re trying to build. Now, you you’re almost like collecting all of the different systems and platforms, information on us we, we take those information back to individual and we own that data and we have control over who we share those information with and what amounts and how to the degree, depending on the organization we’re dealing with.
[00:37:21] So therefore it’s a reversed control ownership of all our own personal data, which critically. Exactly. So there’s that there should not be Facebook making decisions on what of your data is even accessible or available to others. It should be yourself. It should be test, make technically possible. And then you just, you know, let that happen or you don’t let that happen, but it should not be because Facebook, Apple, Google, all of those big guys limit what they want other companies to be able to build competing products for their own.
[00:37:56] Yeah. And so these data with those individual company, do we charge a fee for it? Are we giving them for free? Yeah, exactly. And that’s, that’s a thing where, you know, now we all have free apps, paid apps, that we download for our phones, for computers and so forth. So we are paying for apps and services and then there are free services where we know that we are being used and our data is basically the pain currency.
[00:38:26] But also like Facebook doesn’t really develop services for individuals. They have very limited services what they provide for us individuals, uh, for example, how much they use that data to make better services for us. There’s, you know, hundreds of new applications that could be built on top of Facebook data alone, just showing my friends on a map or, you know, whatever that may be, you know, better search.
[00:38:54] The search in Facebook is like ridiculous. Whatever, just search like, like, and, and they don’t care about those. They just want your eyes balls on the feet. And the thing is that that’s, that that’s, that’s potentially innovation for making many different things, but that doesn’t work unless there’s someone basically creating the infrastructure to around how to make that happen.
[00:39:21] So each of these services probably has literally billions of different data points on any individual person. Like I said, every single place I’ve been every minute, since 2007. Um, and that’s just Facebook let alone, every moment I’ve looked at anything over the last 13 years, how are you going to work with any of these things to have.
[00:39:50] The right set of data, without it being, you know, terabytes per person. Um, what type of data are you actually going to manage and what kind of data could people not plug into your system? Because if you’re going to log every data point or every, you know, like I’ve ever done on Facebook or something, this is not very feasible for each person, or are you going to just have a basic profile of someone like their name, their address, basic.
[00:40:20] You know, basic type of information, what kind of data models are you planning to build for each of these people? Yeah, so that’s a really great question. So basically this is a, as anyone can imagine that it’s, if we’re talking about individuals and all types of different individuals, all aspects of lives, that it is extremely extensive.
[00:40:41] But basically you can take anyone’s iPhone and you can see that, you know, That’s the model, how computers work today. That’s the model, how phones work today. That’s, there’s just different applications for different purposes. So we only, we are only focusing on basically creating that architecture that enables individuals to bring their data.
[00:41:03] And over the, over the time we will iterate that data model to include more and more data points. But for example, we are not the ones going to build those applications on top of that. We only have created the infrastructure. Right now. If I say, I’m going to bring my data to your platform, what data do you get?
[00:41:24] So current. Yeah. So currently we are looking mostly those data where, the data is by design, targeted for your own use, like the, like, like the health data. So Fitbit’s, and, and, you know, things like, Oh, rod that tracks your sleep and, and these types of things where you’re basically your current interaction with the application is private by design.
[00:41:52] So that’s a good starting point because they have good API APIs to connect with the, the, the, your side of data. Then we are separately looking at these big platforms of course, because they have massive user base and, and, and that’s yeah. Yes, data. So location data from Google is one of the things we don’t need to look at all of their data at the same time.
[00:42:15] So it’s this most interesting things and, uh, location data by Google is probably the best. In the world that exists in the free market, uh, about the location, uh, data, it’s also like a test challenges. Like. Your GPS data. If you expose it openly, anyone can see where you live. It’s not a secret, it’s where you spend your nights.
[00:42:38] So it’s like, you have to have some, someone helping you to figure out like, what is safe and what is not safe and what do you want to share and which home? But I don’t think that those platforms really care other than Apple who has now started to take that as their competitive edge. But Apple actually don’t they, they limit the data collection and you don’t even, it’s not even possible to get some benefits in the future on Apple, because basically they don’t have the data.
[00:43:09] So because of their history, they never went into this social network games. They never got foothold there. They never really figured the internet properly. Uh, so, so basically that’s why it’s easy for them to say, Hey, we don’t care about this data because we never figured out how to make business out of it.
[00:43:28] Hmm. So, so then leading me to, I have a few questions in relation to that, because now you’re taking the data from the big giants, like Google and Facebook’s. So they become the source of your personal data and you’re your platform is like a report tree for them to store that information. And then share those information with other providers who potentially want to build an app or use my personal interacting with me does then, then require constant updates from say Facebook and Google.
[00:44:00] And then the second question is, as there are more and more apps, keep on building, you know, and you ask new generation apps coming out. Or what if we know one day Google and Facebook are no longer in the dominant position as they were previously. Then would you then change your source or whatever the provide that information.
[00:44:18] How would you work with that? So basically here, one important point is that we are not going to be ourselves. Like we are not going to be the platform who owns your data or controls that we control access to your data. So. Oh, well, we don’t control it. So in that sense that every individual actually have their own personal cloud where we only provide the standardization so that the data can be connected in a, in a smart way.
[00:44:45] So even if someone would, for example, stop using our service, they would still have their cloud on their data, in their, uh, in the standard format to take it somewhere else. So that’s very important. Also, no two individual’s data are in the same database. So they are totally separate from its other. Again, it’s just the architecture, consideration.
[00:45:06] And then when it comes to a lot of these data sources and applications on top of that, that’s where we built a developer community around us. Is that they, those who say I am interested in these data sources, I would like to have this data yeah. Wants that then built, you know, solutions and applications and interfaces.
[00:45:28] On top of that, because our focus is on the individual side, uh, to basically run this architecture where these types of solutions can then be built on top of that. So we are counting on with something that totally not asked. No single company in the world can do things alone without, you know, Massive movement of individuals and developers and media, and those who basically are now crushed by these bigger platforms [00:46:00] that there’s, you know, regulators who want to change there’s individuals for one to change there’s developers for one to change.
[00:46:06] So it’s just, of course it doesn’t happen if no one is willing to do any, anything on top of that. But what we focus is where we want to bring that, uh, Place where this architecture can start and evolve and look from the eyes of the individual, how they can make sense of this all, how they can, you know, make those decisions about the control and so forth.
[00:46:30] Okay. And then my next question is how would you handle the security aspect? Both that happened because it still is a lot of information, you know, previously, if I’m a hacker, I need to go to very different, different platform to collect one person’s information. I just need to do it once I get everything.
[00:46:46] Yeah. So, so the, the most important thing, uh, like the architects, which considerations like the separation of each individual data, that they are never in the one place. So there’s no one place to hack to get access to everyone’s data. So everyone’s data is in their own cloud and, and basically that’s that’s, you have to hack each of those clouds separately.
[00:47:10] And then, then, the other thing is, of course we all know that the individuals themselves are the weakest point, their passwords, and, you know, that’s, the next level is controlling. Like we have, uh, making sure there’s two factor authentication and things where I, you know, are a bit annoying from the UX perspective, but very important from the security perspective.
[00:47:32] And then finally comes all the, the, the best practices of hashing the data. What is available there that it’s not human readable when, you know, computer access it, access to it, or how to prevent this type of a algorithm or a type of attacks. And that, you know, things get locked by. If there’s. You know, unhuman like behavior, like 100 requests for, you know, some, some specific places and many, many other things that go into that question.
[00:48:05] Awesome. Thanks for the yeah. And the website is great. It’s I hope I pronounce it correctly. P R I F I N A.com and, and, yeah, I mean, like, I think we’re learning, I mean, everybody’s. Being asked some great questions here, Catherine and Zack, Eulaina, Zack is pointing things in the chat, but so you’re, you must be raising money.
[00:48:32] I mean, it’s a humongous, like I think Catherine helped us understand it’s a huge project, Zack, you know, collecting all this data, managing this data, allowing the user to, to control. So what’s the current stage and, and, you know, you’re, you’re in, in your venture and, and I think you guys are, are growing and raising.
[00:48:50] Yeah. So, so definitely like any, as I mentioned that, uh, this is a big thing. This is not, you know, one of those, Oh, there’s a cool app, you know, type of a venture. This is a humongous undertaking that we are doing, and we’re fully aware of it. We’ve been older already in this journey for several years, you know, doing all the architecture, background development and so forth.
[00:49:15] So, so like we need to you know, Many many things along the way we have had, you know, hundreds of developers already taking part, many of them volunteered cheering to make this happen with us. But when it comes to investors, we, we, of course, I don’t think there’s a business in the world who wants to grow that doesn’t want to have dialogue with investors, but.
[00:49:40] Most important for us when it comes to investors is that they actually see this vision. Uh, and they’re kind of mind aligned with that type of direction, understand, uh, that we have, uh, we have existing onboarding, those who are already on board, but there’s also a lot of opportunity for the, even to invest in those applications that run on top of that.
[00:50:04] So there’s a huge amount of opportunity also for investors in this whole field. And we are happy to have dialogue with anyone who sees that, you know, that the architectures cannot evolve further with this current platform centric model. And, yeah, that’s where we are with that track. Cool. Awesome.
[00:50:24] Thanks so much, Valto. It’s been great. I mean, I really appreciate you. I felt like we grilled you and Zack seems like he’s requesting a Spotify data now from Spotify, but yeah, I guess I liked it. I realized, I didn’t mean I requested my Facebook data lately and they have to do it. Right. So, so, and then you’re right.
[00:50:44] You’re trying to help people do what to do with that data. Right. And then help them access this data. So I really wish you the best. Oh this has been a fascinating conversation. And, uh, and so the best way to find you is, is the website or what’s the way that people can find you. Yeah, I think, I mean, easiest is to find me on LinkedIn.
[00:51:03] So, so, linkedin.com/in/valto. Yeah. You got to get readily available there. And then anyone interested in, you know, any aspect of deeper insights of Prifina from any aspect, you know, building new applications on top of that, you know, volunteering, on, you know, Advancing, whichever angle is needed to be figured out in this field.
[00:51:30] We’re very much building an open source community around, uh, evolving that data model for work. So there’s a lot to get involved, and anyone who, you know, just don’t accept the current reality as the end game of the internet is we are happy to look also, you know, go so want to make bets on on the future and be on the board when the big wave of this starts to, you know, race.
[00:51:58] Yeah. I agree. I mean, a lot of us, you know, even on this call, we feel like we have to give the data to these guys. They have to own and control it. But yeah, I mean, I know individuals are not so responsible for our data, but. I think we should have the option and I’m really excited what you’re doing and I hope people.
[00:52:15] Yeah, definitely. You’re very accessible on LinkedIn and, uh, you know, you’re always really also contributing a lot think for the today and the, in others, in the community. So I really thank you for that whole time. And, we are appreciating you.
[00:52:30] Yes. Sure. I think we’re going to wrap up we’re on a back-to-back today on singles. Yeah. So we have a. All right. So thank you everybody. We’re going to, we’re going to end this session and then we’re gonna start another one in a few minutes. Okay.
[00:52:50] We just had another live stream, separate from today’s show. We’re doing these in advance. So if you want to jump in on the live recording in with others in the community, it’s also great, really great way to connect with the guests, get to ask him or her some amazing questions and make that faith virtual face-to-face connection, as well as other benefits and masterminds and other courses and other information we have for.
[00:53:14] Only it does support the show and we do appreciate it in advance. gfavip.com. Thank you. Thank you so much. Oh man, I don’t know. I’d say it’s really still amazing to me, the new way of the show and the live stream. Hopefully people can tune into those live on our Facebook and YouTube if you also enjoy and want to upgrade to the networking connect with us.
[00:53:38] You can join the membership and I would appreciate that in advance. We been get some pretty cool people joining. Thanks Valto. I know that’s a pretty far out one, but me, I, some people tuning in wouldn’t consider investing in this really early stage new technology and, but I mean Valto’s the guy. Anything he’s involved with, I stand behind.
[00:53:57] So he’s, somebody you should definitely reach out to in the meantime, while this is developing, there are amazing ways you could even chip in like a dollar, um, to some things, um, That’s always, I’m always cautious to promote crypto stuff and, uh, the ICO crazy days, but there are ways now, of course, he got to get a little bit on a tech.
[00:54:18] I’ve been playing with something called handshake H and S is the ticker. I’m not really trading the token as much what I’m really investing in. A little bit, at least to, you know, I’m not throwing huge money, but domains and you can buy these new Bitcoin blockchain domains, suddenly Bitcoins, blockchain domains.
[00:54:36] So the idea is H and S is the competitor to DNS. DNS is ICANN. DNS is the old centralized database controlling all the internet. Now, basically I don’t really even fully understand a tech. I get the basic idea should at least basically understand, but the idea here is there’s new. TLDs like instead of a dot.
[00:54:56] Calm or.io, it’s dot your.name. So you can actually own the TLD on the blockchain. So we actually own.global from Asia in this. Blockchain. So if you’re up on speed, you got up, you can’t do it in Chrome or the new browsers, at least in 2020. I hopefully that’d be amazing if Chrome or these other browsers upgraded to handshake and allowed H and S and DNS to coexist.
[00:55:23] You could go to, like, we did make it already. So, podcasts.globalfromasia, no.com. It would work. And, we own that. Um, T L D so.global from Asia. So in the future, we can even have you register a domain on.global from Asia, just like you can have your name.com. You can have your name.global from Asia and the really, really cool one is.
[00:55:48] You could actually even, um, of course sell it, but you could actually get payments on it. It’s it’s a unique code. So you can have mike.global from Asia could be mine. And I could say, send me a Bitcoin or crypto currency there. Uh, another one we invested in ESOP bartender and imagine you’re a bartender. I think you just say, send me a tip at Mike dot bartender.
[00:56:13] So this is some pretty amazing stuff. It’s obviously also very early stage, but you can kind of, it’s an auction right now. And you could actually jump in on this, um, and get these, you know, just like when the domain dot coms were early, this is where it is now with these handshakes. Uh, I’m actually making some videos in a different channel for that, um, at sky include.
[00:56:32] So anyways, that’s just a little, another idea, nothing to do with the. The podcast, but it is about owning the data. You know, there are a lot of these people building these developers I’m in, um, some groups with them. Do ideas, give back to the internet, you know, give back to people, power to the people, you know, with what Volta is doing with your data and with what all these different crypto and blockchain things are doing is that’s why governments don’t like it.
[00:57:02] You know, banks don’t like it cause they can’t control us basically. So these big internet companies don’t like it either because they want to. Hold your data hostage and then lock your account and sell it, sell back to you. So advertising against your data. So I’m a, as you can tell a proponent of supporting the new and open internet and, check out the photos software, link it up on a show notes.
[00:57:29] We also, you know, are always trying to keep up on things. We got some amazing shows coming up and I do appreciate you listening or watching to this. And, uh, I hope this helps you. That’s it for now. I’m going to go eat some spaghetti for Thanksgiving. Thank you everybody. Have a great day. Bye-bye. To get more info on running an international business.
[00:57:49] Please visit our website at wwwdotglobalfromasia.com. That’s www.globalfromasia.com. Also be sure to subscribe to our iTunes feed. Thanks for tuning in.